Adjusting to the unprecedented realities of the COVID-19 outbreak has been challenging for the global population. Hitting pause on life as we knew it and adapting to a new normal has left many struggling. Along with personal setbacks several individuals are also coming to terms with the financial changes brought about by the pandemic. In such difficult times assistance provided by financial institutions can be of great help.
What is a COVID Relief Loan?
In order to effectively contain and manage the pandemic, governments across the world were forced to impose lockdowns. Such lockdowns have prevented large sections of the society from continuing with their daily lives and have essentially changed their way of living. While several employees have lost their jobs, smaller businesses are grappling with reduced revenues. Due to these economic changes such people are dealing with unplanned financial burdens. Further, families have lost the sole breadwinning members, leaving them to deal with personal tragedy and financial problems.
In order to provide much needed assistance to anyone adversely affected by the pandemic, financial institutions like HDFC Bank are providing COVID Loan, also known as the COVID Relief Loans. A COVID Relief Loan can lighten the financial burden for anyone in need of such help. On the personal front, the loan drawn can go towards sustaining a family’s survival or keeping up with expenses if members have lost jobs. It can also be utilised in order to pay off any existing loans and handle medical expenditure. As a means of COVID relief you can avail of HDFC Bank’s Personal Loans that come with quick disbursal and an easy online application process.
Apart from personal uses, a COVID Relief Loan can be of great importance to small business owners. If a business has suffered due to the pandemic, this sort of financial aid can go towards setting it on the right track. It can provide the working capital needed to keep the business afloat or be used to pay off salaries and other overheads. You can find out how HDFC Bank’s Small Business Loan can serve as an excellent COVID Relief Loan right here.
While the pandemic has affected the lives of professionals, students have had their fair share of issues. Several students are struggling to meet with tuition costs and other expenses associated with higher education. Several students also need aid in repaying existing student loans and continuing their education. As classes are conducted virtually, they require the extra financial support to purchase laptops/tablets and other equipment needed for their schooling. With COVID Relief Student Loans these concerns regarding education-based expenses can be addressed. The COVID Relief Student Loans can go towards paying fees, loan dues, or fulfil other needs to reduce a student’s financial stress. HDFC Bank’s Education Loans can provide financial relief to students pursuing higher education while their School Loans can financially assist parents with their children’s education.
HDFC Bank offers Student Loans for COVID Relief especially designed to support students in their time of need and you can find out more about them right here.
Apply for a Personal Loan for COVID here.
Read more about what is a COVID Loan here.
*Terms and conditions apply. COVID Relief Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.